Representatives from various business groups attended the webinar meeting.
With the aim of ensuring business continuity and discussing the way forward to mitigate the impact of Covid-19, Hamad Buamim, President & CEO, Dubai Chamber of Commerce and Industry affirmed that the Chamber continues to follow and study indicators related to commercial activity in the emirate, and to communicate with the local business community in order to be informed of the latest developments in this field.
This came during Buamim’s opening speech at the Second Roundtable of Dubai Chamber’s Business Groups & Business Councils (BGBC), which was held online. The e-meeting was attended by 70 representatives from various business groups and councils, in addition to speakers from the Dubai Chamber in order to discuss the latest economic developments.
During the roundtable, the latest local and international developments were discussed, along with recommendations and proposals that the Chamber has presented to relevant government authorities for mitigating the impact of Covid-19 on Dubai’s business community.
Hamad Buamim said, “The Government is working tirelessly to ensure that we are able to overcome the fight against Covid-19 as soon as possible. In fact, It is a matter of pride that the UAE is among the world’s top five countries for conducting tests, which is a reflection of the Government’s efforts to protect us. It also reassures us that our safety and health is a top priority for our leadership and they will do everything within their power to ensure our well-being.”
He further added that, as part of their efforts to give back to the community and support the private sector, Dubai Chamber is providing humanitarian support to construction and real estate workers and facilitating their return to their home country, under the umbrella of the Community Solidarity Fund against Covid-19. The Chamber’s Centre for Responsible Business is also launching five new initiatives to guide businesses on how to manage the impact of Covid-19 on their organisation and look for long-term, sustainable solutions.
“We launched several initiatives that reinforce our position as a representative of business interests in the emirate, and we will continue to work with our partners to develop practical solutions that positively reflect on giving companies greater and more effective options in dealing with crisis. Our focus continue to be on strengthening the strategic partnership between the government and private sectors to enhance the competitiveness of the business environment in the emirate.”
The meeting witnessed fruitful interaction and discussion between the participants. The Chamber also highlighted some policy recommendations that it has made to the Government which focus on liquidity support measures, such as provision of government guarantees to facilitate firms’ access to affordable loans, easy access to tax payment relief ( including VAT), waiving of government fee & taxes, bank credit extensions and special bank loans for SMES, to name a few. Concerns of the participants related to issues such as repatriation of the unemployed, how to access to Central Bank’s Stimulus Package, Update on Expo 2021, Dubai Chamber’s planned Webinars, were also addressed.
The participants were briefed on the current initiatives by the Chamber, the opportunities and challenges, with a focus on the importance of adhering to the preventive measures and measures taken in order to ensure the success of national efforts to reduce the spread of the virus.
Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.
Dubai Chamber of Commerce and Industry provides an integrated system of smart and electronic services that cover all the requirements of the business community, enabling businesses to complete all their transactions remotely easily, easily and according to the highest international standards. The Chamber is one of the pioneer provider of smart services, with smart transformation of 98 per cent of its core services, which can be accessed using the smart application of the Chamber or by visiting the website.
The Dubai Chamber, General Directorate of Residency and Foreigners Affairs and the Dubai Free Zone Council sign MoU to launch the "Be Part of Dubai" initiative.
Saif Al Ghurair was born in 1924 in Deira, Dubai.
Rayan Malik and Yousuf Zia, two Dubai-based teenagers, have partnered with major companies and launched ThinkSmall-ThinkSmart, a platform that will empower the UAE’s aspiring entrepreneurs.
The US economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.
Canadian plane and train maker Bombardier said on Friday it would cut 2,500 jobs, or about 11% of the workforce at its aviation unit, as the coronavirus pandemic’s crushing impact on the air industry adds to its long list of problems.
The COVID-19 pandemic has introduced unique market pressures and challenges across industrial sectors. In the context of the real estate industry in the UAE, the crisis interrupted a process of steadily building renewed growth.
Germany has become the second major European Union (EU) economy to use a multi-billion-euro recovery plan to spur clean driving, with incentives for electric cars that should boost Volkswagen (VW) and Tesla, while polluting sport utility vehicles (SUVs) face higher taxes.